In this paper, we will explore these different areas to explain what they are, how they have benefited other organisations and the steps an organisation can take in making the transition.

Digitized FP&A Business Partnering is now the latest trend that is going well beyond just Finance involving the entire organization to move FP&A and planning to the next level

The New Normal means that planning is no longer an extrapolation of the past. Similarly, business drivers that worked last year may no longer be relevant for the future. The reality is that organizations face multiple possible futures. Each one can be triggered by a crisis or an unforeseen event that will require the company to adjust or even change course.

So how should FP&A adapt to this New Normal?

There has never been greater uncertainty and a faster pace of change than over the past months.

And yet, at a time that requires speed and agility, and in a function that needs these qualities more than others, we cleave to our traditional management accounting methods and adhere to our longstanding processes.

Over the years, the challenges faced by management have required different planning approaches and techniques. Some have stayed and become ‘the norm’, for example, driver-based planning.

As Einstein said, “In the middle of every difficulty lies opportunity.”  This survey we believe offers hope, insight, and a much-needed reality check on where FP&A is today.  It also forecasts what needs to happen for FP&A teams to develop their best practices from theory into reality.